By Dan Spalding
News Now Warsaw
WARSAW — Marketplace of Warsaw, which will add Hobby Lobby to its lineup later this year, announced on Tuesday that another store, Five Below, will occupy significant space on the west side of the shopping center.
John Murphy, chief financial officer and partner with Sullivan Wickley, which owns the property located along US 30, said they have signed a lease with Five Below, a national retail discount chain with 1,900 stores.
The newest tenant will be located between Bealls and Ollie’s, where about half a dozen storefronts have been empty for years.
Five Below will span 10,000 square feet and will serve as a secondary anchor, he said.
Renovations, he said, will include a new facade.
Both stores are expected to open this fall, he said.
He credits Hobby Lobby for the newest addition.
“People like to follow Hobby,” Murphy said.
The two new stores add to what has become an impressive turnaround for the property.
“At that point, the center will be mostly full, and we are incredibly pleased with the business plan we’ve implemented,” Murphy said.
“We’re very appreciative to the city of Warsaw for their vision and their support,” he said.
Work on Hobby Lobby is already underway.
Instead of using the existing vacant storefront space, Hobby Lobby will construct a 50,000 square foot store that will replace a string of empty stores on the east end.
Sullivan Wickley has been working to revitalize the shopping center for about five years after reaching an agreement with the city to support the redevelopment effort.
City officials became involved after many tenants left amid a serious need for repairs and concerns that the entire property could fall further into distress.
The city provided a $1.4 million bond/investment in 2022 to support the initial improvements.
Hobby Lobby announced its plans in September of 2025 and the city council responded with a $250,00 foregiveabe loan to assist with the new construction.
The addition of Five Below will leave only a few stores still vacant, but Murphy sounded confident.
“When you have a center of gravity (like) Hobby Lobby, there will be no problem leasing those up in the future,” Murphy said.
